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Sarnova Acquires Metropolitan Medical to Expand Portfolio of Specialty Health Care Products
Date:11/4/2009

LINCOLNSHIRE, Ill., Nov. 4 /PRNewswire/ -- Sarnova, Inc., the nation's leading specialty distributor of health care products in the emergency medical services (EMS) and respiratory markets, announced today that it has acquired Metropolitan Medical, Inc. Metropolitan Medical is a medical products supplier serving the mid-Atlantic region. Sarnova plans to merge Metropolitan Medical with its Tri-anim Health Services brand, which specializes in respiratory and anesthesia products for the acute care market.

The privately negotiated transaction further expands Sarnova's portfolio of medical products and broadens its national distribution network. The acquisition is the second that Sarnova has completed since partnering with Water Street Healthcare Partners, a leading private equity firm focused exclusively on health care, in 2008 to create the company by merging Tri-anim with Bound Tree Medical.

"Our number one goal is to support our customers in caring for their patients," said Hank Struik, president and CEO of Sarnova. "Metropolitan Medical shares our passion for going above and beyond to serve our customers. Together, we offer our customers the widest array of high-quality medical products and technologies, and a team of highly trained professionals to assist them with selecting products that best meet the unique needs of their patients."

Don Morley, co-owner and president of Metropolitan Medical added, "My partner and I couldn't think of a better company to acquire our business. Tri-anim's reputation and commitment to acute care providers is unmatched in the industry. Its professional and experienced sales force will ensure our customers and vendors receive excellent service."

Since Water Street's investment in Sarnova last year, the company has grown to become the nation's leading specialty health care distributor, offering more than 100,000 products to thousands of emergency medical providers, hospitals and acute care centers across the country.

"Our plan is to further extend Sarnova's leadership position by building on its strong foundation of premier distribution brands," said Kevin Swan, a member of Sarnova's board of directors and a partner with Water Street. "Acquiring Metropolitan Medical accomplishes another building block in our plan to further enhance the breadth of Sarnova's products and expand its national distribution network. We are actively pursuing additional acquisitions that will create greater long-term value for the company, its customers and employees."

About Sarnova, Inc.

Sarnova is the nation's leading specialty distributor of health care products to the emergency medical services (EMS) and respiratory markets. It distributes more than 100,000 health care products to thousands of emergency medical providers, hospitals and surgery centers through distribution centers located across the country. The company is comprised of two major brands: Bound Tree Medical and Tri-anim Health Services. To learn more, please contact Greg Robitaille, 312-506-2974. You can also visit www.tri-anim.com or www.boundtree.com.

About Metropolitan Medical, Inc.

Metropolitan Medical, Inc. is a leading medical products distributor focused on the mid-Atlantic region. Founded in 1971, the company serves more than 500 hospitals in Virginia, Maryland, North Carolina and the Washington, DC market. To learn more about the company, visit www.metropolitanmedical.com.

About Water Street Healthcare Partners

Water Street Healthcare Partners is a leading private equity firm focused exclusively on health care. With more than $1 billion of capital under management, Water Street is one of the most active investors in the health care industry. The firm has a strong record of building market-leading companies across key growth sectors in health care. It has partnered with some of the world's leading health care companies on its investments including: Johnson & Johnson, Medtronic and Smith & Nephew. Water Street's team is comprised of industry executives and private equity professionals with decades of experience investing in and operating global health care businesses. The firm is headquartered in Chicago. For more information about Water Street, visit www.wshp.com.

SOURCE Water Street Healthcare Partners


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SOURCE Water Street Healthcare Partners
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